second mortgage

« Back to Glossary Index
Tags: banking

A type of mortgage made while an original mortgage is still in effect. In the event of default, the original mortgage would receive all proceeds from the liquidation of the property until it is all paid off.
(source: http://www.investopedia.com/terms/s/secondmortgage.asp#ixzz2M8tOme5o)

Synonyms:
subordinated mortgage
« Back to Glossary Index
Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *